Under the appearance of a bull run, the speculative pattern has changed: entertainment value determines future trends

Whether you've been in the industry or not in the past few years, you've probably missed one thing: Cryptocurrency is actually becoming a consumer product. It has created a new medium that allows people to consume in an era of attention-fragmented dopamine economy, whose value is somewhat fleeting. This article is from Matti, an article by Zee Prime Capital, compiled and compiled by PANews. (Arthur Hayes: Bull Market should be rational and cash out in a timely manner, BTC looks at $250,000 by the end of next year) (Background added: Four strategies to avoid falling into fear of missing out, teach you to stay focused on trading in Bull Market) Whether it is a veteran who has gone through several rounds of cycles or a newcomer to the circle, when facing the Web3 industry that has been risking hot spots or "quick riches" almost all the time after Trump's victory, Presumably a little dazed. One moment is a variety of new animal lines such as Musk and V God Memecoin, and the other is a k-fold myth created by various AI agents. And, of course, there are all sorts of Favourable Information that follows, such as the daily inflow of money into the US BTCSpot ETF; Major listed companies led by MicroStrategy continue to build or begin to build their own "BTC strategic reserves"; and positive regulatory signals such as the Trump team's consideration of creating the first cryptocurrency-related position in the White House. All of this smells of the Bull Market, and BTC is heading towards the $100,000 USDT mark. But what's beneath the surface of Bull Market? Zee Prime Capital's Matti points to the current industry's "undercurrent" that "the most entertaining outcomes are most likely to happen" and that "opportunism is the strongest paganism in cryptocurrency." The following is a full-text compilation. If you leave the cryptocurrency industry in 2022, or, you don't really leave, but are drawn to various superficial narratives, hype Memecoin and chase the generational wealth that may bring, and occasionally read some industry articles. Well, you should be wondering what's going on beneath the surface. Or rather, what are you missing? In this day and age, two phenomena seem to loom over the world. Musk's razor: the most entertaining results are most likely to happen (Note: Occam's razor law advocates that the simplest and most direct explanation or solution should be used as much as possible when solving problems) What was once entertaining becomes serious, and what was once serious becomes entertaining The first point is obvious. By 2016 standards, it would be bizarre for Musk to run a U.S. department called DOGE (Department of Government Efficiency). But now 8 years have passed, nothing is impossible. As for the second point, it is actually a reflection of the first. The U.S. election has become the true finale of a reality show called "America." Politics became entertainment, war casualties were livestreamed, movie plots were used to convey agendas, and social media posts could be prosecuted. One of the small symptoms of "once serious becoming entertainment" is money. Memecoin, to be precise. They call it the magic network currency, Funnymoney, which is a real-time online meme lottery. Not everyone can become a meme and profit from it, but everyone can get infinitely closer to this goal by rushing memecoins. It is clear that sovereign states will massively build BTC reserves (following a bunch of innovators such as El Salvador and Bhutan) and will not rush to dump in August, as Germany did. In retrospect, one should clearly not expect an economically rational decision from a country that decides to continue shutting down nuclear power plants while engaging in a proxy war with its former largest energy supplier. At the same time, Michael Saylor is working to eliminate the root causes of all bubbles, trying to get Wall Street to beat sovereign states in this competition. However, these are all Financial Times-style stories that readers don't really care. What's surging beneath the surface? What has been brewing for a long time and prying the wheels of the Bull Market? If you don't know who the user is – you are the user For those in the industry, cryptocurrency has become a way of life. It's scary to admit, but it's an indisputable fact. This lifestyle is the sum of the consumption of various Cryptocurrency brand quality goods, and it is a lifestyle that repeatedly transfers money, loses money, but still hopes to "retire honorably" without much effort. In Mable's words (which may not be so straightforward), it is: "It's a way of life that is only 'now' and 'now', because the influence of anyone or thing is almost instantly reflected in what we are experiencing." The concept of the end result is almost outdated because the world has truly become an infinite game." As the cycle changes from "season" to "week", the cryptocurrency industry is moving faster and faster. The so-called "altcoin season" has now become "altcoin week". Narrative rotation is faster than ever, and there are more distractions to choose from. The cryptocurrency industry has truly entered the Kevin-Kelly world of protopia, where "today's problems are caused by yesterday's technological successes, and the technical solutions that solve today's problems will cause tomorrow's problems." Cryptocurrency is in a never-ending state of development. Incremental improvements were not visible for a long time, but now it only takes a little push, a small amount of liquidity, and anticipation of political leanings to turn that aggregate into a financial frenzy. Everything in the cryptocurrency is acted by the currency. It's money, it's the super-financialization of attention. And everyone is a user, even if they don't know it. Living in a state of development, you won't even realize that you are living in it, because you will be forced to upgrade every day. Even if you don't consider yourself Newbie, every day you are Newbie. "The momentum of technology pushes us to chase the latest technology, and the latest technology always disappears when the next update comes out, so the satisfaction keeps passing from our hands." In 2017, on-chain trading through the order book (a nod to Ethredelta) was a bad experience and AMM was considered inefficient. In 2018, the problem was that no one wanted tokens. And in 2020, the market realized that they could make money by exchanging tokens without permission on Uniswap and get paid while providing Liquidity. Cryptocurrency has entered a never-ending state of development. The trend is good, but it is not as good as directly to the "ticker" What I know is that each time is different, but it is not the case. The difference is that the nuances of each frenzy are beyond most people's imagination and expectations. We can't predict where it will take us, especially given that there are so many ecosystems and applications moving in all directions. My most optimistic guess is that the pace of change will get faster and faster, certain waves will return again, and path independence will become the most valuable resource for navigating such an environment. The so-called L1 or L2 ecosystem will become less important as the trend becomes application/use case dominance. Of all the current use cases, I am most interested in the "proxy" and "DeSci" topics because they complement the existing industries of Decentralized Finance and Memecoins. Synergistic power can...